Bill of Materials

I Have been working on the Report for a few days now, and thought I would include some information regarding the finalization of our design and concept, so without further a due;

Here is the Bill of Materials for our finished product; 

  

The BOM works off the intended production of 30,000 units of GroupIt Wristbands and 150 units of GroupIt Syncing Hubs.

 

We intend The GroupIt wristbands will be sold to festival goers for an additional $40 per unit ontop of the base ticket price.

Cost to manufacture 30,000 Wristbands = $405,000 AUD

Sale of 30,00 Wristbands @ $40ea = $1,200,000 AUD

Profit margin of 30,000 Wristbands = $795,000 AUD

Cost to manufacture 150 Hubs = $41,000 AUD

Sale of 150 Hubs = $0.00 AUD

Profit marigine of Group-It system including loss of hub manufacturing costs = $754,000 AUD

As shown here, we conclude that the GroupIt system has the potential to be a highly successful business attached to any major event or festival.